6. You have been contributing $1,000 per year for the past 12 years to your companys 401(k). The company has provided a 50% match and added to your account annually. If the 401(k) investments have been earning an average of a 12% annual return, how much is your account worth? 7. The local bank is offering a 2-year CD (certificate of deposit) at 8%. How much will you have when a $1,000 CD matures? 8. Your competitor offers you $7,000 per year for the next 5 years for the right to a company patent. You instruct your lawyer to negotiate an immediate lump sum payment instead. Assuming a 6% rate, what is the least you would be willing to accept? 9. A friend borrows $2,000 from you to start a business. She agrees to repay you $2,600 in 3 years. Assuming that you passed up an investment that would have earned you an annual return of 8%, did you get a good deal?